Published: 8th May 2018

In the first of two parts, Tony Hutchinson argues that the way we talk about housing is exacerbating the housing crisis. Hardly a day goes by without the media commenting on the state of the housing market, usually bemoaning the lack of solutions which makes good headlines and simplistic soundbites. Let’s break down the concept of a housing market and how language frames solutions. In classical economics, the market distributes scarce goods and resources to the best possible uses. The cumulative impact of everyone seeking their own best interest delivers the optimum outcome for all. In a market, everyone has the knowledge and ability to act in their own best interests. Arguably, in terms of housing whether provided for sale or for rent, there are so many constraints on the knowledge of consumers and their ability to act in their own interests as to undermine that premise. Equally, housing is not … (To read the full article, subscribe below)